Loan Comparison: 4.98% vs 6.5%
223 5th, Firestone, CO 80520 · 4bd/2ba · $475,000
List Price
$475,000
Assumable Rate
4.98%
Remaining Balance
$416,262
Equity Gap
$58,738
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$58,738
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 4.98% + gap loan
$2,499/moAssumed loan: $2,229/mo
Gap financing: $269/mo
$354less per month with the assumable
Your Savings on This Property
223 5th, Firestone · 4.98% FHA vs 6.5% conventional
$354
per month
$4,244
per year
$127,325
over 30 years
$127,325
interest saved
How gap financing works: The equity gap ($58,738) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($34,988 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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